Renovated Duplex with Covered
For Sale
$339,900
5135-5129 UPSON Avenue, De Leon Springs, FL 32130
Residential, DE LEON SPRINGS, FL
Property Size1,896 SF
Lot Size0.50 Acres
Price / SF$179.27
Days on Market56
Property Features for 5135-5129 UPSON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
01R4
Bedrooms
5
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Family Room, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 5
Appliances
Refrigerator
Subdivision
BEARDSLEYS DELEON SPGS
Directions
NW on 15A,Turn left on N. Woodland/17N, Right on E. Berlin, 3rd left onto Upson
Standard status
Active
APN
69-43-01-09-00-0010
Size
1,896 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
43-16-29 LOTS 1 3 5 & N 8 FT OF LOT 7 BLK 9 MAP OF DELEON SPRINGS PB 1 PG 37 MB 12 PG 46 PER OR 7135 PG 164 PER OR 7777 PG 4633
Tax Annual Amount
3036
Legal Description
43-16-29 LOTS 1 3 5 & N 8 FT OF LOT 7 BLK 9 MAP OF DELEON SPRINGS PB 1 PG 37 MB 12 PG 46 PER OR 7135 PG 164 PER OR 7777 PG 4633
Utilities
Sewer type
Septic Tank
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Well
Building Details
Year built
1957
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Shingle
Listing Agency:
STOCKWORTH REALTY GROUP
(407) 909-5900
Listed By:
Oliver Alfaro · License #3650659
(805) 206-9638
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 15 at 5:06AM
MLS# O6428518
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,896-square-foot duplex on a 0.5-acre lot contains two renovated residential units. One unit offers 2 bedrooms and 1 bathroom; the other provides 3 bedrooms, 1 bathroom, and a 13' x 15' bonus room. Each unit has a covered carport. Improvements include a new HVAC system, flooring, interior paint, kitchen cabinetry, ceiling fans, and a stove. The property also features block construction, terrazzo flooring, shingle roofing, central air, and additional window or wall units. Both units are currently rented on a month-to-month basis.
The property is located 7 miles north of DeLand and near the St. Johns River, with access to fishing and outdoor recreation. The lot provides room for RV, boat, or trailer parking. Zoning is 01R4, with well water and a septic tank.
The property is located 7 miles north of DeLand and near the St. Johns River, with access to fishing and outdoor recreation. The lot provides room for RV, boat, or trailer parking. Zoning is 01R4, with well water and a septic tank.
Key Highlights
- 1,896‑square‑foot duplex on 0.5 acres
- Two units: 2 bedrooms/1 bathroom and 3 bedrooms/1 bathroom
- Second unit includes a 13' x 15' bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,633
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$332,660
$332.7K
Cap Rate 7%
$237,614
$237.6K
Cap Rate 9%
$184,811
$184.8K
Market Conditions
NOI Build-Up for 1,896 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.4K $13.92/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$23.8K $12.53/SF
− OpEx
−$7.1K −$3.76/SF
NOI
$16.6K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$332,660
Cap Rate 7%
$237,614
Cap Rate 9%
$184,811
Alternative Uses
Best Use
Multifamily LT 5
$237.6K
$207.9K – $277.2K
NOI $16,633 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$206.4K
$180.6K – $240.8K
NOI $14,448 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$559.0K
$489.2K – $652.2K
NOI $39,133 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 32130, FL
5,485
Population
2,082
Households
2.6
Avg Household Size
45
Median Age
23%
College-Educated
89%
High-School Grad
94.6 sq mi
ZIP Area
58
Density / Sq Mi
$59,288
Median Household Income
$35,647
Median Earnings
$1,181
Median Rent
$269,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units offer distinct layouts, recent improvements, and month-to-month rental arrangements.
Where is this duplex located?
The property is located at 5135-5129 UPSON Avenue De Leon Springs, FL.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 1,896‑square‑foot duplex on 0.5 acres; Two units: 2 bedrooms/1 bathroom and 3 bedrooms/1 bathroom; Second unit includes a 13' x 15' bonus room
